Title
Resolution concurring in the issuance and sale by the City of Saint Paul of General Obligation Tax Increment Refunding Bonds, Series 2018C, approval of a Second Amended and Restated Pledge Agreement, a Budget Amendment, and related matters, District 17, Ward 2
Body
A. WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”), established a redevelopment project in the City under the provisions of Minnesota Statutes, Sections 469.001-469.047, as amended (the “HRA Act”), designated as the Seventh Place Redevelopment Project (the “Project”); and
B. WHEREAS, the HRA established a redevelopment tax increment financing district within the Project under the provisions of Minnesota Statutes, Section 469.174-469.179, as amended (the “Tax Increment Act”) pursuant to a resolution of the Board of Commissioners (the “Board”) of the HRA adopted on September 24, 1997, and designated the redevelopment tax increment financing district as the Block 39/Arena Redevelopment Tax Increment Financing District (the “District”); and
C. WHEREAS, pursuant to Resolution No. 97-1533 of the City Council (the “City Council”) of the City of Saint Paul, Minnesota (the “City”), adopted on December 17, 1997, and approved by the Mayor on December 26, 1997, the City issued the following obligations on January 22, 1998: (i) General Obligation Tax Increment Bonds (Block 39 Project), Series 1998A (the “Series 1998A Bonds”), in the original aggregate principal amount of $21,255,000; and (ii) Taxable General Obligation Tax Increment Bonds (Block 39 Project), Series 1998B (the “Series 1998B Bonds”), in the original aggregate principal amount of $18,745,000 (hereinafter referred to collectively as the “Series 1998 Bonds”); and
D. WHEREAS, pursuant to Resolution No. 97-12/22-3, adopted on December 22, 1997, by the Board of the HRA, the Board approved certain actions to be taken by the HRA in conjunction with the issuance of the Series 1998 Bonds and ap...
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